HealthTech – the use of technology to deliver or improve clinical health services to patients – was one of the most active and growing industries of 2020.
While the sector was expanding before COVID-19, the pandemic has caused a critical acceleration toward digitalising systems, with HealthTech solutions booming.
Healthcare stakeholders are increasingly joining efforts with HealthTech companies to improve and increase access to remote care.
Restrains on movements forced most businesses to move their day-to-day operations online, including many health clinics and GPs.
Through HealthTech, and the TeleHealth subsector in particular, patients can connect with their doctors and access health care services via videoconferencing and wireless communications from the safety and comfort of their homes.
In turn, doctors can perform electronic consultations as well as monitor their patients remotely for less threatening situations and illnesses. HealthTech has the potential to make healthcare more accessible and convenient far beyond the worldwide pandemic.
Global healthcare funding skyrocketed 45% YOY in 2020, an all-time record. Equity funding was $26.5bn in 2020, the highest ever.
Sectors ranging from telemedicine to medical devices to AI healthcare all raised record-high funding.